Jack Ma declares a Bitcoin Bubble

Alibaba Group Holding Founder and Executive Chairman Jack Ma declares a bitcoin bubble at the recent World Intelligence Conference in Tianjin, China. His official statement was “There is no bubble for blockchain, but there’s a bitcoin bubble.” Mr. Ma has been an avid supporter of blockchain technology and he mentions that Alibaba has been conducting research on blockchain during the past few years. Blockchain Technology is a core focus of the Chinese Government, who has been one of the largest investment providers in blockchain projects. It is not surprising to see Jack Ma jump on the bitcoin hater train as the Chinese Government has also restricted trading of all cryptocurrencies since September 2017.